Table 5.
Multinomial logit and latent class models
| Variable | MNL | Latent Class Model | |||||
|---|---|---|---|---|---|---|---|
| Class 1 | Class 2 | Class 3 | |||||
| Coeff. (S.E.) | Coeff. (S.E.) | WTP° (€000/equipment) | Coeff. (S.E.) | WTP (€000/equipment) | Coeff. (S.E.) | WTP (€000/equipment) | |
| OptOut | -1.23 (0.13)*** |
-2.30 (0.18)*** |
– | 3.32 (0.47)*** | – | -5.65 (1.23)*** | – |
| Price | -0.03 (0.00)*** |
-0.01 (0.00)*** |
– | -0.02 (0.01)*** | – | -0.19 (0.01)*** | – |
| Significant yield increase | 0.16 (0.06)*** |
0.03 (0.07) |
– | 1.07 (0.21)*** | 62.96 | -2.12 (1.02)*** | -11.40 |
| Low yield increase | -0.49 (0.10)*** |
-0.96 (0.12)*** |
-68.94 | -1.07 (0.37)*** | -63.10 |
-2.13 (1.06)*** |
-11.46 |
| Electric |
0.09 (0.09) |
0.31 (0.11)*** |
22.11 | 1.36 (0.33)*** | 80.34 | -3.77 (1.18)*** | -20.24 |
| Industry leader | 0.26 (0.11)*** |
0.11 (0.13) |
– | 1.60 (0.39)*** | 94.28 |
3.36 (2.04) |
– |
| Low emissions | 0.22 (0.06)*** |
0.22 (0.08)*** |
15.96 |
0.45 (0.27)** |
26.47 | 2.04 (0.32)*** | 10.98 |
| High emissions | -0.82 (0.11)*** |
-0.94 (0.14)*** |
-67.84 | -1.89 (0.51)*** | -111.77 |
0.36 (1.12) |
– |
| Average probability | 0.63 | 0.16 | 0.21 | ||||
***Significant at a 95% conf. level; ** Significant at a 90% conf. level
°Willingness to Pay is expressed in thousands € / equipment